The markets opened sharply higher with the Dow soaring 130 points to 17,749 as Greece offered new concessions to its creditors. Nasdaq climbed 39 points to 5,026.
On the upside
Ace (NYSE: ACE) will acquire Chubb (NYSE: CB) in a cash and stock deal valued at approximately $28.3 billion.
TetraLogic (Nasdaq: TLOG) reported encouraging preliminary data from an ongoing Phase 2A study of birinapant to treat higher risk myelodysplastic syndromes.
Rock Creek Pharmaceuticals (Nasdaq: RCPI) reported positive results from a human proof of principle study with anatabine citrate.
On the downside
Peabody Energy (NYSE: BTU) warned that second quarter results would fall short of previous guidance.
Ballard Power Systems (Nasdaq: BLDP) priced its offering of 8.125 million common shares at the discounted price of $1.60 per share.
Chambers Street Properties (NYSE: CSG) will merge with Gramercy Property Trust (NYSE: GPT).
In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 2 on the NYSE and by nearly 4 to 1 on Nasdaq. The broader S&P 500 climbed 16 points to 2079. Bitcoin lost $5 to $257.
Greece offers new concessions, markets open higher
July 01, 2015 at 10:43 AM EDT
